Ghana’s petroleum downstream regulator, NPA, has fined seven oil marketing companies to the tune of GHS1,550,000 million for various offences.
The seven companies are Moari Oil Co.Ltd, Rodo Oil Co. Ltd, MBA Global Ltd, Cigo Energy Ltd, Torrid Global Ltd, Naddif Co. Ltd and GAT Oil.
They were punished for engaging in Third Party Supplies, a practice which is considered illegal and unlawful lifting of petroleum products.
Besides, the Authority has also suspended Rodo Oil Co, MBA Global Ltd and GAT Oil for one month.
According to a statement issued by the Corporate Affairs Directorate of the Authority Moari, Oil Co. Ltd was fined GHS 50,000.00, Rodo Oil Co Ltd GHS 350,000.00, MBA Global Ltd GHS85,000.00 and Cigo Energy Ltd GHS 245,000.00.
The rest, namely Torrid Global Ltd was fined GHS 550,000.00, Naddif Co Ltd GHS150,000.00 and GHS120,000.00.
The NPA warned that any company that fails to comply with the rules and guidelines stipulated by the National Petroleum Authority would be subjected to appropriate sanctions.
Source: https://energynewsafrica.com